As our economy dey so, Bitcoin na blessing to us?

[Cityhunter34]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individual to get direct control over their finances without relying on intermediaries.

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[Egii Nna]

Yes, one of the greatest advantages of bitcoin is that it is decentralised, which is why many people trust it because no one or nation has control over it.

And again, for sure, bitcoin has helped a lot of people in Nigeria so far, and it is still helping others, most especially the youth. If not for bitcoin investment, many youths now in high institutions and universities will suffer a lot, but with it, those who learn to believe and trust bitcoin are making money, while those who think that bitcoin is a scam will always stay the way they are with our financial stability.

What I can just say is let us educate other friends of ours that are still seeing bitcoin in a negative way. If they are willing to join, then better if they are not, then we leave them.

[Frankolala]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individual to get direct control over their finances without relying on intermediaries.

OP, na true talk you yarn o. If say no be bitcoin all of us no go come dey together for this forum dey enjoy the benefit of bitcoin. No be only Nigeria bitcoin dey help people wey dey into am, but also for other third world countries wey corruption and bad government don cripple their economy.

This our country wey work no dey, at least people wey learn one or two things for bitcoin go fit use am hold body, just like me and other of our brothers and sisters wey dey signature campaign, bitcoin don help us reach another level for life. Traders too dey benefit. Bitcoin na blessing to us in disguise.

[Hyphen(-)]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.

My brother na the truth be that oo, Bitcoin na better blessing for some of us while some people still de think negative about am, but I no actually blame some of them because dem no know anything about am and dem no wan know.

The way our Naira de depreciate in value to USD always is something to think about, but the government no de even reason how dem go take rearrange am so dat the Naira go get value small, so if you been de save Naira for account, your money don lose value and u no go fit buy anything wey u been de hope say d money go buy for u before; but if you get bitcoin for your wallet, you no need to fear or panic because your money go de get value de go.

If to say Bitcoin de centralized, foul play for de on how to control d price and others, but as it is decentralized, everybody get right to control him bitcoin d way wey him like and anytime.

Furthermore, Bitcoin don provide means of income to so many people including me because dis our country get as e be, work no de and graduates de plenty for ground every day, so some people de use bitcoin and crypto trading hold bodi while some de work for bitcoin payment to survive, therefore, Bitcoin is a life saver.

[rachael9385]

Yes, you done talk well for this one, even the government self no get control over Bitcoin but dem just dey try to dey manipulate am just in a way so that we the investors no go invest for Bitcoin, as the government of our own country no accept Bitcoin and dem done see am say them alone or with the help of other officialdom no go even fit control Bitcoin or stop am nai make dem limit banks to dey transact with Bitcoin.
Anyway, Bitcoin done help so many of us for this country especially those of us way dey this medium, Bitcoin no dey hard to get, nah just for us tho buy am with p2p transaction for any wallet way dey safe.

[Samlucky O]

If to say Bitcoin de centralized, foul play for de on how to control d price and others, but as it is decentralized, everybody get right to control him bitcoin d way wey him like and anytime.

Furthermore, Bitcoin don provide means of income to so many people including me.

Wetting you talk na true. say if bitcoin dey centralized say foul play for dey am. Naim be the reason why government put the ban on crypto. Because them no wan do something wey no go favour them. If to say people gree say make crypto currency dey centralized, Dem for no ban am.

I been dey think of how government go allow the citizens to fully adop crypto currency for every online transaction, and to receive bitcoin in binance and Cash out from local bank. But when I reason say that time e no go dey decentralized rather centralized. And Dem go dey penetrate the Bitcoin wey dey our wallet say na tax,vat,sms charge or even maintenance fee.there making you not to have total control over your Bitcoin account just like local bank. So I come dey talk say make them no even remove the ban again because na the ban dey make us enjoy p2p transaction.

Another one na how Bitcoin don provide means of income. reduce unemployment, cyber crime, scam and many more. And with time corruption go reduce drastically because if BITCOIN touch your life e no go remain the same again. I must confens say e don alleviate poverty. Apart from God the only saviour we have in this world is BITCOIN. Sometimes I ask who gave Satoshi nakamoto this idea? It can only be God.

[Franctoshi]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individuals to get direct control over their finances without relying on intermediaries.

If you are a Bitcoin investor and a Holder, Looking at the situation of our currency today, the Naira, you would understand that indeed Bitcoin is a blessing to us today. Bitcoin has brought us a lot of opportunities today and it is also the reason why we are here.
Through Bitcoin some people are employed today in our society.

[Dzwaafu11]

Yes, you done talk well for this one, even the government self no get control over Bitcoin but dem just dey try to dey manipulate am just in a way so that we the investors no go invest for Bitcoin, as the government of our own country no accept Bitcoin and dem done see am say them alone or with the help of other officialdom no go even fit control Bitcoin or stop am nai make dem limit banks to dey transact with Bitcoin.
Anyway, Bitcoin done help so many of us for this country especially those of us way dey this medium, Bitcoin no dey hard to get, nah just for us tho buy am with p2p transaction for any wallet way dey safe.

Na true you talk, you know say why government no gree accept bitcoin for dix naija ba because most of them wey they their no know anything about am, and because they know say if they legalize am people ho run from bank transactions come back to bitcoin, be the kind of privacy and freedom wey bitcoin get na wetin go make people run bedat, and again the way our correct value they now e no they really help us oh. Person go gather money to go market if you just buy one or two money don finish, the thing tire me oh.

Sha we no get much say about d matter, make Jah just help us if not e no really easy for us, nothing they even improve for this naija now . But god go run am for us all.

[Wiwo]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individuals to get direct control over their finances without relying on intermediaries.

Bitcoin is a saviour from financial slavery that was designed and operated by the world financial institutions of government who have seized and taken control of citizens' money and the economic freedom of the citizens also through the use of some financials and economic tools such as inflation.

But with bitcoin,  a lot have changed over time and we are beginning to see the effects of that bitcoin revolutions on the entire global economy and a lot of freedom has been given back to the people through the adoption and right usage of Bitcoin to solve all the financial needs where the traditional financial system will give limitations to such freedoms,  this makes Bitcoin becoming the best alternative currency.

[Davidvictorson]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individual to get direct control over their finances without relying on intermediaries.

Here the truth- Bitcoin na blessings to you if you dey earn in Bitcoin and fit use an as emergency funds when you need your needs to be sorted out. All the talks about say e dey empower individual to blah blah blah only concern people wey dey on "holding -mode". For this Naija the thing wey be blessings to us na business. Na that one sure pass. Because you Sabi say once kasala burst like this na your business be your baby wey go save you if you invest wella to build am up.

[Humblevirus]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.

No be lie op, na blessing ooo for any person wen understand Bitcoin and how it dey work.and because governments no want may individuals see the blessings that why dey dey try by all means not to accept Bitcoin, assume government can control Bitcoin many countries for done legalize am, but because they can't control it and they want to be continue control us that is why governments are giving restrictions everywhere about Bitcoin.

[sotelorene]

My brother waiting you talk na true even if say I nava start to they invest for Bitcoin but seeing how plenty people done benefits from Bitcoin I most say Bitcoin is a game changer, so I just wish say everybody for we 9ja go see Bitcoin on the perspective way we they see am, live for they better somehow for we 9ja.

[Charles-Tim]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individual to get direct control over their finances without relying on intermediaries.

The control can be of two types: the first is the control over bitcoin price while the second is the control over your own money. Bitcoin do not give the government or central authority the power to have any of the two controls. But according to your post, you are referring to central authority control, like the government.

But regarding economy, bitcoin is an asset and its price is controlled by demand and supply. People buying more and the coin is becoming more scarce which makes its price to increase. In short, bitcoin is an appropriative asset and that is how I see it is helping Nigerians, for people to use it to hedge against inflation.

[Cryptomultiplier]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individual to get direct control over their finances without relying on intermediaries.

Bitcoin knowledge and resources na better blessing to us wey Sabi am and mostly for this current biting economy.
As per the control wey dey inside, e dey hard for anyone person or even the SEC regulators to do anything, all them fit do na just to monitor transactions because na inside decentralized network Bitcoin or cryptocurrencies these days dey run on.

I think Bitcoin and crypto currency market fit dey manipulated somehow, because since na based on demand and supply the system dey run, those wey get million dollars investment in BTC or cryptocurrency, wey we know as whales fit affect the prices and availability of the coin when them decide to sell their asset or liquidate some of am.

[sokani]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individual to get direct control over their finances without relying on intermediaries.

Bitcoin na him be the koko, e give everyone financial inclusion and e no dey restricted by age, gender or territory. E put power in the hands of the people, no entity fit control or manipulate bitcoin na him make government dey see am as threat to fiat.

A remember back in days, if person wey dey obodo oyibo send you money, na always big challenge to collect the money, the process dey time consuming and this na after banks don carry out their verification checks. But Bitcoin don make everything dey easy for everyone, the transaction dey transparent, faster, better and e don eliminate the need for third party. E help many businesses strive as you fit buy something from abroad and pay with Bitcoin. Many Nigerians wey dey work remotely dey use am as a medium of payment for their services and e also give people wey dey into Bitcoin trading a source of livelihood.

[Coyster]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individual to get direct control over their finances without relying on intermediaries.

Bitcoin dey decentralized and no authority/entity fit control am and if you dey use Bitcoin na you go always dey in control of your money/finances, but mind you, if you carry your Bitcoin put am for centralized exchanges you no dey in control again oh, na only when Bitcoin dey inside your non custodial wallet wey you go dey in control of your assets.

Having said that, generally Bitcoin no go help based on our current economical wahala, though Bitcoin fit serve as hedge for fiat inflation and e go fit give you ROI if you invest and hodl for the long term, but Bitcoin no go fit make the economy better generally, that one no follow for one of its use cases.

[Mate2237]

Yap and na true talk be that. Bitcoin don save many life and help them well well. So bitcoin na blessing to everyone wey dey use am and like am. But make we no go over do oh. Make sure you know when to invest and when to trade. Bitcoin was created mainly for p2p and not for third party control. You send directly to the recipient wallet and nobody can block or obstruct the transaction and there is no monthly charges. The economic leaders might have tried their best to stop bitcoin but since there is no central control system, they could do not so they let it be. Bitcoin is the best ever for now. Because the matter the amount you have in you account, nobody can come block your account and ask you how you manage to get this money. This this happened in the aftermath of #Endsars when the Federal Government froze some of the protesters accounts and sued them to court and when they discovered that many people used bitcoin to save their money den no come fit do anything again so they just leave those people.

There are plenty people that are using  bitcoin in Nigeria but the people wey no dey use am nai plenty pass. And I believed non of those people wey dey use bitcoin e dey poor, everyone dey do well in their little ways and for those wey dey the forum sef dey do well. And when di government go adopt am, people go dey happy dey join and use because even for those wey never use am def know say bitcoin e dey exist. And dem sef know say bitcoin dey help people well well but dem dey fear to use am because government never approved am.

[Charles-Tim]

A remember back in days, if person wey dey obodo oyibo send you money, na always big challenge to collect the money, the process dey time consuming and this na after banks don carry out their verification checks. But Bitcoin don make everything dey easy for everyone, the transaction dey transparent, faster, better and e don eliminate the need for third party.

In addition, the fee is also expensive. Yes, I agree with this. One of them that you are referring to is wire transfer. Wire transfer can take days. There are some other ones but they are also costly just like wire transfer. Some people are referring to bitcoin transaction to be costly, but far cheaper than international fiat transactions.

Having said that, generally Bitcoin no go help based on our current economical wahala, though Bitcoin fit serve as hedge for fiat inflation and e go fit give you ROI if you invest and hodl for the long term, but Bitcoin no go fit make the economy better generally, that one no follow for one of its use cases.

Not a single thing that will help the economy, but all will be combined to make a good economy. If Nigeria government force those exchanges to have offices in Nigeria, have some workers from Nigeria and regulate them like banks and using them to generate internal revenue, it would have been better.

To some extent, bitcoin is helping some people involved in bitcoin trading like P2P and making money from it and contributing to the economy. If someone make money from a business (which can be bitcoin business or related), the person will buy goods more and give works to people for the people to render their services. Which means this can help in increasing production, but it is left to the government on how they make citizens produce the goods and services locally, or keeping on depending on imported products and services.

[Antotena]

For me oh, I think say Bitcoin na blessing to us, because no single entity get control over Bitcoin.
Making it more resistance to censorship and manipulation.
E dey empower individual to get direct control over their finances without relying on intermediaries.

Bitcoin is a blessing not only to Nigeria but to every country that is challenged with with centralized policy. Where you have to say yes sir before it can be done, where you have to give a bribe before it can be process, you have to pay and lobby to make things faster. However, presence of bitcoin na very transparent technology wey we go dy see wetin dy happen through, it will be visible and transparent for everyone to see.

Just visualize how the central bank would be better today if they have adopted bitcoin and pay people in bitcoin, the rate of corruption in nigeria is going to drop because any money you spend and embezzle will be transparent and anyone that cannot be accounted for will be seen from the blockchain. But will bitcoin be welcome in our central bank, no.

Bitcoin also has power to make people make payment without any fear and have to wait for approval, as long as it's your money, you have the private keys# you will send amount to any person without any middle person or maybe a point of failure, bitcoin doesn't fail.

Aside from the other benefits, we need bitcoin because it appreciate in value, if you have ever have bitcoin when it was around $4000 during the bear market but with time, it went above previous all time high, anyone that happened to bought n that price should be in good profit. This is why we as Nigeria, need bitcoin to store our assets.

[Coyster]

Not a single thing that will help the economy, but all will be combined to make a good economy. If Nigeria government force those exchanges to have offices in Nigeria, have some workers from Nigeria and regulate them like banks and using them to generate internal revenue, it would have been better.

Even if our government sets a framework/regulation for crypto, it does not mean centralized exchanges would launch physical offices in Nigeria, i don't see why they'll want to do that or be forced to do that. The government would only give them their own terms of the crypto regulatory framework, and if these businesses think they cannot cope with it, they'll simply have to discontinue their services to Nigerian customers.